What is Gemini Dollar (GUSD)?
Gemini Dollar (GUSD) is the first adjustable stablecoin, fully secured with US dollars, which is designed to be transferred in an open and decentralized manner, which corresponds to cryptocurrency. Gemini Dollar is a combination of credit quality and price stability of the American dollar with blockchain technology. In addition, tokens is supervised by US regulators, in particular, the New York State Department of Financial Services.
GUSD built on the Ethereum network in accordance with the ERC20 standard for tokens. US dollars that correspond to GUSD issued and in circulation are held at State Street Bank and Trust Company.
Gemini Dollar is released by the Gemini Trust Company, LLC and the New York trust company. It was created by the Winklevoss brothers on September 9, 2018. Winklevoss twins are known far beyond the cryptocurrency industry as the most successful Bitcoin investors. This cryptocurrency appeared on the stock exchanges in early October 2018.
However, Winklevoss brothers are known not only as good investors. The brothers are also the creators of the Gemini exchange, which began operations in 2015. The main feature of the project is that this is the first completely regulated international crypto exchange. The New York State Department of Financial Services has approved the creation of this exchange.